The U.S. housing market is on track for its second straight year of historically sluggish sales, the result of scant inventory, high prices and stubborn interest rates. Many prospective buyers are sticking with the rental market, but even people considering more affordable options are facing headwinds: According to a study by LendingTree, the average price of new manufactured homes — also know as mobile homes — is rising faster than that of new single-family homes.
Using data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, researchers found that from 2018 to 2023, the average sale price of a new mobile home rose about 58 percent, to $124,300. During the same period, the average sale price of a new single-family home rose nearly 38 percent, to $409,872.
The good news is that the growth seems to be slowing. In a similar LendingTree study last year, which covered the years 2017 to 2022, the five-year increase in the average price of a new mobile home was 77 percent, to $127,300, while the increase for a new single-family home was 47 percent, to $430,808.
Where are mobile-home prices growing the fastest? Kansas — nearly 85 percent, from $63,700 to $117,800 over the past five years. Connecticut was just behind, up 83 percent to $132,700, followed by Georgia, Vermont and New Jersey.
Some of the most expensive mobile homes are in western states, the study found. They cost the most in Washington, with an average sale price of $164,100 — nearly $40,000 higher than the national average. Where are the cheapest mobile homes? Indiana, where the average sale price is $103,000. That might not sound like a lot, but it’s still 62 percent more than it was in 2018.
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